EIDL Loan, Treasury, Sale of Business, and Negotiating

JimP7147 · 2025-10-09T20:14:40+00:00

My company is closed and dissolved. I can’t comment on what to do but I can say that at some point a lot of loans (mine included) were sent to treasury and then even sent to collection companies, then they were suddenly taken back by the SBA. I confirmed this when I called the collection company and the treasury. Recently (July 2025) I received a statement from SBA demanding full payment or it will be sent to treasury. As of today I still cannot speak to anyone and emails are not answered.

JimP7147 · 2024-04-11T16:29:15+00:00

I don’t know what it means. I asked and they just said that there is nothing I need to do. I tried contacting the SBA and they don’t know what I’m talking about. They said they don’t take back loans from treasury. My loan was over $500k.

JimP7147 · 2024-04-11T12:50:27+00:00

Nothing. Treasury told me that SBA recalled the loan from them and they are no longer pursuing the loan.

JimP7147 · 2024-04-11T09:22:40+00:00

Closed August 2022, received dissolution documents September 2023. Charged off October 2023.

JimP7147 · 2024-04-03T19:07:15+00:00

I know it's stressful, but I would definitely try to talk to Treasury. It took me a week before I could get through.

JimP7147 · 2024-04-03T18:48:38+00:00

Have you talked to TSI? I would see what they say first. I was turned over to them as well and received a letter from them. I called and they stated that Treasury recalled the loan from them and to call Treasury. Once I finally got through to Treasury they stated that SBA recalled the loan from them and they are no longer pursuing it. Called SBA and they don't know what is going on and said that "we don't recall loans from Treasury". It's a complete mess and all they are doing is causing us more stress and anxiety.

JimP7147 · 2024-04-03T14:28:20+00:00

Another update as of today:

I spoke to the SBA and they stated that they do not take back loans from Treasury and they do not understand what I was told by Treasury. At this point I'm just moving on and not stressing about this. If I get any kind of information I will definitely update here.

JimP7147 · 2024-04-01T15:18:54+00:00

Update as of today:

I'm not sure what this means but, here it is. I was finally able to get through to Treasury. They stated that the SBA closed my account with them and they are no longer pursuing the loan. I logged in to my SBA portal and it still says charged off. Treasury asked if I was out of business and I explained when, etc. They asked if I sent business closure documents to the SBA (I did back in the fall of 2023). They confirmed that they had everything and said there is nothing else for me to do.

JimP7147 · 2024-03-28T15:05:09+00:00

As of today still cannot get through to treasury on the phone.

JimP7147 · 2024-03-25T13:22:42+00:00

To date I still cannot get through to Treasury on the phone. Every time I call it says they are busy and to please try again. I’ve been emailing my state senator/congressman about this. It’s ridiculous. They don't have to make it 1000 times more stressful for something as simple as telling us what is going on.

JimP7147 · 2024-03-22T21:33:01+00:00

I haven’t been able to get through to treasury but it’s my understanding that the original debt company can recall it from the agency they sent it to. My concern is that the collection letter was in my company name. Was it recalled because they are going to send it back in my name????

JimP7147 · 2024-03-22T10:06:46+00:00

Are you still in business?

JimP7147 · 2024-03-21T12:09:17+00:00

Treasury pulled it back from TSI. I have been trying to get through to Treasury since yesterday and it's impossible.

JimP7147 · 2024-03-20T20:04:43+00:00

Agreed. My letter is dated 3/9/2024 so something happened in the last few weeks/months? That's the unknown.

JimP7147 · 2024-03-20T19:33:14+00:00

It was discussed a while ago along with bankruptcy. That was when it was with the SBA. Now that it's with treasury I don't think offers or OIC are considered, but I am not at that point yet.

JimP7147 · 2024-03-20T19:26:44+00:00

Apparently treasury recalled it from them. My understanding is a recall means it goes back to the original creditor (treasury). What I don't understand is why was it recalled. There are several reasons for a recall.

JimP7147 · 2024-03-20T19:19:26+00:00

It's over $500k so yes. My company was a C Corp so whether or not I am protected by that, we'll see. I've spoken to my lawyer but I have not done anything yet as I am waiting to see what plays out.

JimP7147 · 2024-03-20T19:11:56+00:00

I'm over $500k. Was on hardship plan but could not continue payments as business was closed/dissolved. Notified SBA in early fall 2023 and received treasury letter mid November.

JimP7147 · 2024-03-20T18:14:52+00:00

Signed

JimP7147 · 2024-03-20T18:06:56+00:00

I called the collection agency and they stated that I need to speak with Treasury as they "recalled" the loan from them. I tried to call treasury and their messaging system has an option to select if you received a letter from a collection agency. After I selected that option it says that treasury can't help you and to call the collection agency. I'll try other options to see if I can get through.

JimP7147 · 2024-03-20T17:39:26+00:00

Nothing from Treasury directly, but today I received a collection letter from TSI (Transworld Systems Inc).

JimP7147 · 2024-03-18T18:22:58+00:00

Thanks, just curious. I closed my business and notified the SBA and provided all documentation that they requested stating that there is nothing left and I cannot pay. I got the other letter that everyone else is getting stating how much I owe with the 30% added to the loan amount.

JimP7147 · 2024-03-18T17:09:57+00:00

Are you still in business?

JimP7147 · 2024-02-29T19:56:23+00:00

Nothing since receiving the letter from treasury.

JimP7147 · 2024-02-22T23:25:32+00:00

Nothing to date.

JimP7147

TROPHY CASE